Some progress has been made in the ETF applications by getting listed on the U.S. Depository Trust and Clearing Corporation (DTCC). However, the Securities and Exchange Commission (SEC) continues to delay the deadline. On September 10, the agency announced that it will issue its final decision on Franklin’s XRP ETF proposal later this year.Advertisement

List of XRP ETF Applications 

ProShares Ultra XRP ETF

• Application Filed: January 17, 2025

• Approved and launched on July 18, 2025

• Provides 2x leveraged exposure to XRP futures

Grayscale XRP ETF

• Application filed: September 5, 2024. 

• Form: 19b-4 submitted on January 30, 2025, to convert its XRP Trust into an exchange-traded fund listed on the New York Stock Exchange.

• The SEC’s final decision is expected to be made on October 18, 2025. 

21Shares XRP ETF

• Application filed: November 21, 2024

• Form: 19b-1 to register its Core XRP Trust shares for listing on the Cboe BZX Exchange. 

• SEC officially acknowledged the application on February 19. Final decision on approve or disapprove will be made on October 19, 2025. 

Bitwise

• Application filed: December 2, 2024

• Form: S-1 to launch a spot XRP ETF that would hold XRP directly. 

• SEC officially acknowledged the application on February 19. Final decision on approve or disapprove will be made on October 20, 2025. 

Canary Capital

• Application filed: October 8, 2024

• Form: S-1 to launch a spot XRP ETF. It allows investors to have direct exposure to XRP’s price without needing to buy, hold, or manage the cryptocurrency themselves.

• SEC officially acknowledged the application on February 19. It got listed on DTCC, but the Final decision by the SEC will be made on October 24, 2025. 

WisdomTree

• Application filed: December 2, 2024

• Form: S-1 to launch a spot XRP ETF that directly tracks the price of XRP. 

• SEC officially acknowledged the application on February 19. Final decision on approve or disapprove will be made on October 24-25, 2025. 

Franklin Templeton 

• Application filed: March 

• Form: S-1  to provide a regulated institutional investment vehicle that directly holds XRP tokens. 

• SEC announced a 60-day extension for the Franklin XRP ETF review and has now set a new deadline for November 14, 2025. 

CoinShares 

• Application filed: January 24, 2025

• Form: S-1 to launch a spot XRP ETF. This aims to provide investors with regulated, direct exposure to XRP through a traditional exchange-traded fund.

• SEC officially acknowledged the application on February 19. Final decision on approve or disapprove will be made on October 25, 2025. 

• Also Read :

RexShares Rex-Osprey

• Application filed: January 21, 2025
• Form: S-1 to launch a spot XRP ETF that holds XRP tokens directly. 

• The SEC was expected to make a decision by September 12, 2025, but it got delayed, allowing more time to review before granting approval. 

Volatility Shares XRP ETF 

• Application filed: May 21, 2025

• Form: N-1A Post-Effective Amendment registration. It plans to launch both a 1x XRP futures ETF and a 2x leveraged XRP futures ETF.

• The SEC’s decision timeline was scheduled for July 2025, but was later delayed. 

In a notice, the SEC wrote, “The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change, and the issues raised therein.” 

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FAQs

Several XRP ETF applications are under SEC review, with final decisions expected between October and November 2025 after multiple deadline extensions.

Yes, the ProShares Ultra XRP ETF, a 2x leveraged futures fund, was approved and launched on July 18, 2025. Spot ETF applications are still pending.

Several applications are still under review, including those from Grayscale, 21Shares, Bitwise, Canary Capital, WisdomTree, Franklin Templeton, CoinShares, and RexShares Rex-Osprey.